Regulatory Alerts2025-04-11
Circular No. 12/2: Amendments to FX Regulations on Derivatives, Philippine Peso Transactions, and Bank Reporting
Bangko Sentral ng Pilipinas issued Circular No. 12/2 to amend the Manual of Regulations on Foreign Exchange Transactions and the Manual of Regulations for Banks. The circular restricts FX derivatives transactions to legitimate hedging and funding needs, mandates electronic document submission, and updates reporting requirements for non-deliverable forward transactions. It also revises guidelines for inward investment registration and establishes a six-month transition period for compliance with new reporting forms.
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